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South America


Argentina, Chile state firms aim to boost offshore natural gas output

Argentina’s YPF and Chile’s ENAP have agreed to invest around $200 million to boost offshore oil and natural gas production in southern Argentina. The aim of the agreement is to increase gas output to 4 million cubic meters a day from the current 2.4 million cubic meters a day over the next three years. by Charles…

Russia says in talks with Venezuela over countering oil price falls

Russia and Venezuela are discussing a joint action to combat falling oil prices. The next meeting between the countries will be on November 25 where a more detailed discussion is expected to take place. by Gabriela Baczynska, Reuters, November 18, 2014 Nov 18 (Reuters) – Russia and Venezuela discussed joint action to combat falling oil prices,…

Bolivia Confirms Meeting of G77 Energy Ministers for Late November

On November 28-29, ministers of energy and hydrocarbon of several countries in the G77, plus China, will meet in Tarija to analyze development challenges in the sector and the management of natural resources. So far, 20 ministers from Latin America, Asia and Africa are expected to attend the Bolivia gathering, by Latin American Herald Tribune,…

Russia Agrees to Buy 1.6 Million Tons of Venezuelan Oil

On Monday, Russia closed a deal to purchase 1.6 million tons of oil and nine tons of petroleum derivatives from Venezuela over the next five years. This is the second contract signed between the two countries in order to provide Russia with Venezuelan oil. by Latin American Herald Tribune, November 2014 MOSCOW – Russia closed…

Pdvsa guarantees gasoline supply in central states

PDVSA President Eulogio del Pino said gasoline supply was guaranteed in Venezuelan central states. by Andreína Trujillo, El Universal, November 19, 2014 President of state-run oil company Petróleos de Venezuela (Pdvsa) Eulogio del Pino said gasoline supply was guaranteed in Venezuelan central states. “Pdvsa guarantees gasoline supply in Carabobo and Aragua states. Gasoline stations will be…

PDVSA and Rosneft ink oil products agreeement

PDVSA and Rosneft ink oil products agreeement

PDVSA has signed a long-term contract with Rosneft. The document is for supplies of over 1.6 million tons of oil and 9 million tons of oil products of Venezuelan production to Rosneft withing five years. A conference will be held by the two parties on November 21 to discus the proposals on the enhancement of…

Venezuela still mulls fuel price hike, takes hit on oil fall

Venezuela is still considering raising its domestic fuel prices that are currently the world’s cheapest. The nation is hurting from the plunge in global oil prices since it receives 96 percent of its foreign currency revenues from oil. According to President Nicolas Maduro the country has lost 30 percent of its dollar revenues in the…

Enel Looks To Distribution, Renewables For Latin American Growth

Enel SpA, Italian utility, wants to focus on electricity distribution and renewable energy as it increases its investment in Latin America’s growing markets. The group has slowly been shifting attention away from Italy and Spain as it focuses on Latin America’s emerging markets and their abundant resources. by Rosalba O’Brien and Antonio De la Jara, Business…

Japanese company to help region ‘save energy and save money’

The director general of Latin America and the Caribbean department at JICA, Takano Takeshi, says that projects are being developed  to co-finance renewable energy and energy efficiency initiatives. The projects are being financed by the Caribbean Development Bank, Inter-American Development Bank and JICA. by Richard Lord, Trinidad and Tobago Guardian, November 14, 2014 Takano Takeshi, director general…

Venezuelan Oil Ports Struggle to Handle Tanker Arrivals

Venezuelan oil ports are overwhelmed as they struggle to load and unload cargoes on time. PDVSA is offering to buy up to 2.4 million barrels of gasoline and ultra low-sulfer. The new offers combined with ten oil and fuel orders from October are causing the traffic at the ports. by The Maritime Executive, November 13,…

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Site Last Modified: November 12, 2014